The market for isosorbide is expected to register a CAGR of over 8% during the forecast period. Major factors driving the market studied are the rising demand from the polymer and resin segment and increasing demand from the pharmaceutical segment. On the flip side, the side effects of isosorbide derivatives on health and unfavorable conditions arising due to the COVID-19 outbreak are the major restraints that are expected to hinder the growth of the market.
– The growing trend of bio-based products, such as bioplastics, is expected to offer various lucrative opportunities for the growth of the market.
– By end-user industry, the polymer and resin segment is expected to dominate the market, owing to the increasing demand from industries, like electrical, electronic, medical devices, and automotive.
– Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Get a PDF Sample for more detailed market insights: https://www.sdki.us/sample-request-87297
Key Market Trends
Increasing Demand from the Polymer and Resins Segment
– Isosorbide is a white heterocyclic chemical compound from the group of diols, containing two fused furan rings. It is mainly derived by catalytic hydrogenation of glucose.
– The growing demand for polymers and resins to manufacture products for various applications in medical, electronic gadgets, and the automotive industry is increasing the demand for isosorbide and propelling its growth.
– Isosorbide is eco-friendly and non-toxic in nature, as it is produced from raw materials, like starch obtained from maize, wheat, rice, and other crops containing starch. Thus, it is widely used to manufacture biopolymers like polyesters and polycarbonates.
– Isosorbide bis-glycidyl ether is formed by reacting isosorbide with epichlorohydrin, which is crosslinked to thermosetting epoxy resins with suitable curing agents, such as polyamines or cyclic acid anhydrides. These resins find applications as adhesives and paints and coatings of food cans, thus increasing the demand for isosorbide and propelling its growth.
– The global polymer industry is expected to register a CAGR of over 5% during the forecast period, which may increase the demand for isosorbide and stimulate its growth in future.
– Owing to all the above-mentioned factor, the market studied is expected to grow rapidly over the forecast period.
Asia-Pacific to Dominate the Market
– Asia-Pacific is expected to dominate the market for isosorbide during the forecast period. In countries, like China and India, owing to the increasing demand for bio-plastics due to low raw material and labor costs, the demand for isosorbide has been increasing in the region.
– The growing demand for bio-based polymers, like polyethylene isosorbide terephthalate (PIET), polycarbonate, and polyurethane made from isosorbide, is anticipated to drive the isosorbide market in the region during the forecast period.
– Additionally, derivatives of isosorbide, namely, diesters and dimethyl, are used as plasticizers in polyvinyl chloride (PVC) and solvents and fluxing agents, respectively. Due to this, the demand for isosorbide has been increasing in the region, which is fueling the growth of the isosorbide market.
– Furthermore, the increasing application of derivatives of isosorbide, such as mononitrates and dinitrates, in medical applications to treat coronary artery diseases is boosting the isosorbide market. Also, isosorbide dinitrate is one of the important ingredients in anti-hypertension drugs.
– The bio-plastics market in Asia-Pacific is expected to register a CAGR of over 27% during the forecast period. This may create lucrative growth opportunities for the isosorbide market during the forecast period.
– Some of the major companies operating in Asia-Pacific are Roquette Frères, ADM, and Mitsubishi Chemical Corporation.
Isosorbide Market Size Top Companies, Business Growth & Investment Opportunities, Share and Forecast 2022-2031
Hydrazine Hydrate Market Size New Innovations Trends, Research, Global Share and Growth Factor 2022-2031
Dimer Acid Market Size Analysis By Industry Growth, Size, Share, Demand, Trends and Manufacturers Analysis Research Report 2022-2031
Furfural Solvent Market Size By Key Players, Deployment Type, Applications, Vertical, and Region 2022-2031
Europe Caustic Soda Market Size Report Analysis, Share, Revenue, Growth Rate With Forecast Overview 2022-2031